There Are Four Strategies That Firms Can Use to Balance

question 5

Multiple Choice

There are four strategies that firms can use to balance supply and demand; price, lead time, inventory, and _____.

• A) transportation
• B) warehousing
• C) customer service
• D) production flexibility
• E) none of these answers

---

Definitions:

Services

Services like accounting, banking, cleaning, consulting, education, insurance, professional knowledge, medical care, and transportation that cannot be physically touched.

Goodwill

An intangible asset on a company's balance sheet that represents the premium paid over the fair market value of the acquired assets in a business acquisition.

Tangible Capital

Physical assets that are used in the operating activities of a business, such as buildings, machinery, and equipment.

Economic System

The organized way a country allocates resources and distributes goods and services in the national community.